Call reports 2022
VERUS BANK OF COMMERCE — 2022
What VERUS BANK OF COMMERCE reported to the FFIEC in 2022, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2022Q1 | 2022Q2 | 2022Q3 | 2022Q4 |
|---|---|---|---|---|
| Total assets | 259,215,000 | 225,273,000 | 220,194,000 | 209,543,000 |
| Total loans | 153,156,000 | 154,987,000 | 154,717,000 | 149,136,000 |
| Allowance for loan losses | 1,794,000 | 1,594,000 | 1,594,000 | 1,394,000 |
| Securities available for sale | 0 | 0 | 0 | 0 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 212,429,000 | 182,630,000 | 179,207,000 | 168,668,000 |
| Interest-bearing deposits | 109,710,000 | 93,693,000 | 93,161,000 | 90,786,000 |
| Noninterest-bearing deposits | 102,719,000 | 88,937,000 | 86,046,000 | 77,882,000 |
| Equity capital | 37,374,000 | 38,179,000 | 36,382,000 | 34,805,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2022Q1 | 2022Q2 | 2022Q3 | 2022Q4 |
|---|---|---|---|---|
| Interest income | 2,224,000 | 4,343,000 | 6,654,000 | 9,128,000 |
| Interest expense | 239,000 | 450,000 | 636,000 | 849,000 |
| Net interest income | 1,985,000 | 3,893,000 | 6,018,000 | 8,279,000 |
| Noninterest income | 209,000 | 404,000 | 572,000 | 719,000 |
| Noninterest expense | 1,496,000 | 2,632,000 | 4,110,000 | 5,229,000 |
| Provision for loan losses | -300,000 | -500,000 | -500,000 | -700,000 |
| Pretax income | 998,000 | 2,165,000 | 2,980,000 | 4,469,000 |
| Income tax | 251,000 | 544,000 | 749,000 | 1,124,000 |
| Net income | 747,000 | 1,621,000 | 2,231,000 | 3,345,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2022Q1 | 2022Q2 | 2022Q3 | 2022Q4 |
|---|---|---|---|---|
| Tier 1 capital | 36,591,000 | 37,528,000 | 35,731,000 | 34,154,000 |